Acelyrin (NASDAQ:SLRN) Price Target Lowered to $3.00 at Citigroup

Acelyrin (NASDAQ:SLRN) had its price target cut by Citigroup from $6.00 to $3.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 35.75% from the stock’s current price.

Several other research firms also recently commented on SLRN. HC Wainwright lowered their target price on shares of Acelyrin from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday. Wells Fargo & Company dropped their price objective on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.60.

Acelyrin Price Performance

Shares of SLRN stock traded down $1.28 during trading hours on Tuesday, reaching $2.21. 10,396,359 shares of the company traded hands, compared to its average volume of 3,573,088. Acelyrin has a 12-month low of $1.91 and a 12-month high of $8.89. The company has a market cap of $221.72 million, a P/E ratio of -0.90 and a beta of 1.94. The firm has a 50-day moving average price of $4.39 and a 200 day moving average price of $4.89.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Acelyrin by 16.3% in the second quarter. The Manufacturers Life Insurance Company now owns 29,769 shares of the company’s stock valued at $131,000 after purchasing an additional 4,163 shares during the period. US Bancorp DE raised its position in Acelyrin by 77.1% during the 3rd quarter. US Bancorp DE now owns 16,854 shares of the company’s stock valued at $83,000 after purchasing an additional 7,336 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Acelyrin by 65.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,196 shares of the company’s stock worth $95,000 after buying an additional 7,560 shares during the period. Virtu Financial LLC bought a new position in shares of Acelyrin during the 3rd quarter worth $50,000. Finally, HighTower Advisors LLC purchased a new position in shares of Acelyrin during the third quarter valued at $50,000. Hedge funds and other institutional investors own 87.31% of the company’s stock.

Acelyrin Company Profile

Acelyrin, Inc, a clinical biopharma company, focuses on identifying, acquiring, and accelerating the development and commercialization of transformative medicines. The company's lead product candidate is izokibep, a small protein therapeutic designed to inhibit IL-17A with high potency, which is in Phase 3 clinical trials for use in the treatment of Hidradenitis Suppurativa, Psoriatic Arthritis, and uveitis, as well as in Phase 2 clinical trials for use in the treatment of Axial Spondyloarthritis.